Gold prices remain in the 3040-3055 range
Yesterday, Fed Chairman Powell's dovish remarks drove gold prices up, breaking through the historical mark of $3050.
Technical analysis:
Daily chart: Gold prices show a strong pattern of three consecutive positives
Strong support formed near $3023
4-hour chart: Support formed at 3040.
Intraday operation suggestions:
Low-long thinking: It is recommended to look for long opportunities in the correction, focusing on the support of the 3040 area.
As long as the price remains above this support area, gold prices are expected to continue to explore the 3070-3080 area.
High-altitude thinking: If the gold price approaches $3072 for the first time, you can consider shorting with a light position, but be cautious, because the current support has moved up and the risk of short orders is relatively high.
Key support and resistance:
Support: 3040, 3023
Resistance: 3060, 3070
Risk warning:
Although the current gold price is strong, it may usher in a technical correction in the short term.
Therefore, it is recommended to be cautious in operation, avoid chasing high prices, and do a good job of risk control.
Key events:
Bank of England interest rate decision
U.S. initial jobless claims data
February existing home sales report
Geopolitical dynamics
Overall: Gold prices are still expected to continue to rise in the short term, but we need to be wary of technical correction risks.
In terms of operation, it is recommended to focus on low-level longs, while paying attention to the breakthrough of key support and resistance levels.
Yesterday, Fed Chairman Powell's dovish remarks drove gold prices up, breaking through the historical mark of $3050.
Technical analysis:
Daily chart: Gold prices show a strong pattern of three consecutive positives
Strong support formed near $3023
4-hour chart: Support formed at 3040.
Intraday operation suggestions:
Low-long thinking: It is recommended to look for long opportunities in the correction, focusing on the support of the 3040 area.
As long as the price remains above this support area, gold prices are expected to continue to explore the 3070-3080 area.
High-altitude thinking: If the gold price approaches $3072 for the first time, you can consider shorting with a light position, but be cautious, because the current support has moved up and the risk of short orders is relatively high.
Key support and resistance:
Support: 3040, 3023
Resistance: 3060, 3070
Risk warning:
Although the current gold price is strong, it may usher in a technical correction in the short term.
Therefore, it is recommended to be cautious in operation, avoid chasing high prices, and do a good job of risk control.
Key events:
Bank of England interest rate decision
U.S. initial jobless claims data
February existing home sales report
Geopolitical dynamics
Overall: Gold prices are still expected to continue to rise in the short term, but we need to be wary of technical correction risks.
In terms of operation, it is recommended to focus on low-level longs, while paying attention to the breakthrough of key support and resistance levels.
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Enjoy life, enjoy trading
Enjoy life, enjoy trading
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Telegram: t.me/+IVt6eHrHm84wYWE5
Enjoy life, enjoy trading
Enjoy life, enjoy trading
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.